Featured Post

A unilateral assertion offered to and for consideration by the European Descended People of the fifty united States of America and all ...

27 July 2016

Democrats to Federal Reserve: You're too White

The Federal Reserve has a diversity problem, and Democrats want something done soon.

The Democratic Party's platform for its convention calls out the lack of diversity at the Fed, a sore issue for the central bank.

About 82% of the Fed's most senior employees -- there are 231 of them -- are white, according to Fed data. Not a single Fed leader on its policy committee is black or Latino. And 10 of the current 12 Fed regional presidents are white men.

That sharp lack of diversity at the top is in the spotlight as the Fed begins a two-day meeting on Tuesday. Among the many things on the agenda are discussions on the economy and interest rates. The Fed is not expected to raise rates at this meeting.

Republicans routinely trash the Fed's leadership. But now, Democrats aren't going easy on Fed Chair Janet Yellen either. In her testimony to a Senate committee in June, Yellen was asked about the Fed's lack of diversity three times.

"The leadership across the Federal Reserve System remains overwhelmingly and disproportionately white and male," Senator Elizabeth Warren and Congressmen John Conyers, both Democrats, wrote in a letter in May to Yellen.

Warren continued to grill Yellen at the hearing in June, asking whether the lack of minorities concerned Yellen and what she would do about it. Yellen's response didn't satisfy Warren.

"It's unfortunate," Yellen said. "I believe it's important to have a diverse group of policy makers who can bring different perspective to bear."

Fed Presidents are chosen by directors of the regional Fed banks. Then the Fed's Board of Governors approves the appointment. Some critics cry foul that Fed leaders conduct a matter of utmost importance -- U.S. monetary policy -- yet go through no public vetting process.

"The selection process for regional Fed presidents is broken," Warren told Yellen in June. "The current process has not allowed you and the rest of the board to address the persistent lack of diversity among the regional Fed presidents."

Democrats also want to weed out Wall Street from the regional Fed banks. The last three regional Fed president appointments have been former Goldman Sachs employees. Currently four Fed presidents hail from Goldman and two worked at Citigroup.

"We will fight to enhance its independence by ensuring that executives of financial institutions are not allowed to serve on the boards of regional Federal Reserve banks or to select members of those boards," according to the Democrats' platform.

Parrhesia

The two all-time most popular posts of Transudationism

A modern-day classic

All life is a form of light, and the cosmos is a holonic Holy Hologram.

Immanence ≋ Transcendence

Transudationism: mankinds' cosmic ideology.

SIC ITUR AD ASTRA!

Ascensional Transudation

Cosmic Evolution

All history is the history of the evolutionary transubstantiation of matter to Spirit via biological-life processes of Blood and Reason.

Alexandr Solzhenitsyn's concluding thoughts from his 1978 Harvard address, A World Split Apart

Alexandr Solzhenitsyn's concluding thoughts from his famous 1978 Harvard address,"A World Split Apart":

It would be retrogression to attach oneself today to the ossified formulas of the Enlightenment. Social dogmatism leaves us completely helpless in front of the trials of our times.

Even if we are spared destruction by war, our lives will have to change if we want to save life from self-destruction. We cannot avoid revising the fundamental definitions of human life and human society. Is it true that man is above everything? Is there no Superior Spirit above him? Is it right that man's life and society's activities have to be determined by material expansion in the first place? Is it permissible to promote such expansion to the detriment of our spiritual integrity?

If the world has not come to its end, it has approached a major turn in history, equal in importance to the turn from the Middle Ages to the Renaissance. It will exact from us a spiritual upsurge, we shall have to rise to a new height of vision, to a new level of life where our physical nature will not be cursed as in the Middle Ages, but, even more importantly, our spiritual being will not be trampled upon as in the Modern era.

This ascension will be similar to climbing onto the next anthropologic stage. No one on earth has any other way left but - upward.

In recent times it has been fashionable to talk of the levelling of nations, of the disappearance of different races in the melting-pot of contemporary civilization. I do not agree with this opinion, but its discussion remains another question. Here it is merely fitting to say that the disappearance of nations would have impoverished us no less than if all men had become alike, with one personality and one face. Nations are the wealth of mankind, its collective personalities; the very least of them wears its own special colours and bears within itself a special facet of divine intention.

Dr. Paul Craig Roberts

Neoconservatives used 9/11 to launch their plan for US world hegemony. Their plan fit with the interests of America’s ruling oligarchies. Wars are good for the profits of the military/security complex, about which President Eisenhower warned us in vain a half century ago. American hegemony is good for the oil industry’s control over resources and resource flows. The transformation of the Middle East into a vast American puppet state serves well the Israel Lobby’s Zionist aspirations for Israeli territorial expansion.

Search This Blog

About Me

MIdwest Book Review:

"The seed of the universe is the big bang, says Kyle McDermott in 'The Declaration of White Independence: The Founding Documents of Transudationism'. An explanation of this view which holds that all of current humanity and life on Earth today was intentionally set in motion all those billions of years ago, 'The Declaration of White Independence' probes matters of cosmological significance with straightforward candor and accessibility. Featuring intriguing concepts and ideas, 'The Declaration of White Independence' is highly recommended for metaphysical studies shelves."

The Music of Life: Biology Beyond Genes

and speaking of cosmic symphonies, Julianne Hough

We use third-party advertising companies to serve ads when you visit our website. These companies may use information (not including your name, address, email address, or telephone number) about your visits to this and other websites in order to provide advertisements about goods and services of interest to you. If you would like more information about this practice and to know your choices about not having this information used by these companies, click here.